Eastmain Resources Inc.: Clearwater Project Eau Claire Gold Deposit Drilling

10.98 g/t Au over 11.0 m - 450 West Zone 17.7 g/t Au over 6.5 m - 850 West Zone

Marketwired

TORONTO, ONTARIO--(Marketwire - Jan 17, 2013) - Eastmain Resources Inc. (ER.TO) is pleased to announce drill assay results for its 100%-owned Eau Claire gold deposit (Clearwater Project), located in the James Bay region of Québec. Over 100 gold-bearing drill intersections from 2012 drilling exceed resource cut-off grades. The 2012 drill program was successful in expanding gold resources within the upper 300 metres of the Eau Claire gold deposit. Both high-grade gold veins and wider zones of gold mineralization have been detected in multiple drill holes, principally within four domains, from within the 450 (Upper and Lower Vein Groups) and 850 West Zones (Central and Northern areas).

107 drill holes, totaling 41,065 metres, were completed in 2012. A table of significant assay results for the 2012 drilling program at Clearwater, together with maps and figures, has been posted on the Company''s website at www.eastmain.com.

450 West Zone

Within the Eau Claire deposit, the 450 Zone currently consists of three main gold-enriched horizons, each containing multiple vein sets - the Main Group of Veins (P, JQ, R and S veins), the Upper Group of Veins (veins A to I) and the Lower Group of Veins, which consists of the numerous and compound T Vein series.

The 2012 drill program has defined additional potentially open-pitable and underground resources from two domains within the 450 West Zone. Multiple vein intercepts have been delineated within both the Upper and Lower Groups of Veins.

Drill hole ER12-456 intersected an 11.0-metre-wide zone, which extends continuously from I Vein to the adjacent P Vein, grading 10.98 grams gold per tonne (g/t). This intersection includes a 7.5-metre interval at 14.9 g/t gold and 15.8 g/t tellurium at a down-hole depth of 239.5 metres. This high-grade interval is located 250 metres west and 300 metres south of the outcropping 450 West Zone. Drill hole ER12-450 also intersected wide zones of gold mineralization from the Upper Group of Veins (D Vein), grading 4.36 g/t gold over 11.0 metres, including 10.7 g/t gold and 13.2 g/t tellurium over 4.0 metres, at 81.5 metres.

Drill hole 442 intersected a 7.5-metre-wide zone from within the H Vein, which assayed 4.83 g/t gold, including an interval grading 47.4 grams gold per tonne and 36.6 g/t tellurium over 0.5 metres, at 190.5 metres. Drill hole 406 intersected 67.9 g/t gold over 2.5 metres from the S Vein. The interval includes one-half metre grading 336 g/t gold and 580 g/t tellurium at a depth down hole of 207 metres. This very high-grade vein is located mid-way between the 450 and 850 West Zones.

2012 drilling also delineated over 50 gold-bearing vein intersections from the T Vein Group, thereby extending the 450 West Zone both to the north and to the west. Hole ER12-369 cut five metres of vein T10 which assayed 12.3 g/t gold and 22.8 g/t tellurium and included a 2.0-metre zone grading 29.2 g/t gold and 53.8 g/t tellurium.

850 West Zone

Potentially open-pitable and underground resources were also confirmed within the Central Area of the 850 West Zone, extending below the high-grade Soccer Field trench in veins V9, V10 and V12. Drill hole ER12-411 intersected a 23.5-metre-wide interval from within Vein 9, grading 3.63 grams gold per tonne, including 13.4 g/t gold and 9.14 g/t tellurium over 4.0 metres at depth of 57.5 metres. Drill hole 412 intersected 17.7 g/t gold over a 6.5-metre-wide interval from Vein 10 at a depth of 157.5 metres. This intersection included a 3.5-metre interval grading 31.4 grams gold per tonne.

In the Northern Area of the 850 West Zone new gold discoveries in V18, V19 and V20 have extended the north margin of the deposit. Here, significant wide and high-grade vein intervals include 14.7 g/t gold and 24.8 g/t tellurium over 2.0 metres, within a wider interval grading 2.57 g/t gold over 15.0 metres, at a depth of 69.0 metres, in Vein 19 (hole 388), and 13.5 metres of 3.09 g/t gold, which contains a 3.0-metre interval of 10.1 g/t gold and 10.0 g/t tellurium in hole 391 at 77.0 metres, also in Vein 19, (both holes previously reported).

Drill hole 431 intersected a 25.5-metre-wide interval from Vein 20, located parallel to Vein 19, assaying 0.97 g/t gold, which included 11.0 metres of 1.66 g/t gold and 1.9 g/t tellurium at a depth of 121.5 metres. Both surface trenching and drilling has confirmed the potential to expand resources in the 850 West Zone to the north.

According to Eastmain''s President & CEO, Donald J. Robinson "2012 drilling was very successful in adding wide zones of gold mineralization from the 0.5 to 3.0 gram range as well as bonanza-grade feeder veins, ranging from 10 to over 100 grams gold per tonne.

Exceptional results from holes 412 and 456 are indicative of the high-grade bonanza feeder-style vein gold systems present at Eau Claire, both in the 450 and 850 West Zones. These drill intersections, located 700 metres apart, consist of multiple half-metre core samples containing continuous, high-grade gold mineralization over wide intervals.

Eau Claire is a unique example of a high-grade gold deposit, located in a safe jurisdiction, in close proximity to infrastructure. It is one of the highest-grade, undeveloped, royalty-free gold deposits, with superb ready-made infrastructure, in North America. Our 2013 objectives include demonstrating that there are sufficient gold resources defined within the Eau Claire deposit to support a low-cost, highly-profitable, long-life mining operation."

Dr. Donald J. Robinson P. Geo, President and Chief Executive Officer of Eastmain, Qualified Person under National Instrument 43-101 reviewed and approved the technical data presented in this press release.

Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from HQ core, sawed in half along the core axis, with one half sent to a commercial laboratory and the other half retained for future reference. Sample length approximates true thickness. Core samples are crushed and split with 1 kg pulverized for assay. Core samples containing visible gold were also analyzed by screen metallic methods. Screen metallic samples are screened to 100 microns. 50-gram splits are then fire-assayed using an AAS finish methods.

About Eastmain Resources Inc. (ER.TO)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. The Corporation has $12.5 Million in working capital and holds a pipeline of exploration projects within the James Bay District, including the Éléonore South property. Eastmain has allocated $7.5 million for exploration within the James Bay region of Québec for 2013.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Table 1. Clearwater Project - 2012 Drill Assay Data Highlights
                 
HoleID From To Interval m Au g/t Te g/t VEIN ID Zone Notes
                 
ER12-369 134.5 135.0 0.5 8.19 9.19 S 450  
  145.5 147.0 1.5 5.07 7.27 T 450  
  194.0 196.0 2.0 1.01 0.94 T3 450  
  268.5 273.5 5.0 12.25 22.83 T10 450  
incl. 268.5 270.5 2.0 29.24 53.80 T10 450  
incl. 269.5 270.0 0.5 46.70 102.00 T10 450  
                 
ER12-388 69.0 84.0 15.0 2.57 4.30 V19 850  
incl. 82.0 84.0 2.0 14.73 24.83 V19 850 VG 20
  177.5 183.5 6.0 1.40 1.78 V16 850  
                 
ER12-391 77.0 90.5 13.5 3.09 3.13 V19 850  
incl. 87.5 90.5 3.0 10.10 10.00 V20 850 VG 70 TE 42
                 
ER12-406 132.0 133.0 1.0 8.63 0.33   450  
  207.0 209.5 2.5 67.9 93.6 S 450 VG 113 TE 155
incl. 207.0 207.5 0.5 336.0 580.0      
                 
ER12-411 57.5 81.0 23.5 3.63 2.98 V9 850 VG 250
incl. 57.5 64.0 6.5 3.89 4.16 V9 850  
incl. 74.0 78.0 4.0 13.40 9.14 V9 850  
  109.0 111.0 2.0 41.62 49.50 V10 850  
incl. 109.5 110.0 0.5 148.00 173.00 V10 850  
                 
ER12-412 61.0 63.5 2.5 0.69 0.80 V9 850  
  157.5 164.0 6.5 17.70 0.53 V10 850  
incl. 160.5 164.0 3.5 31.40 0.83 V10 850 VG 35 TE 30
  427.5 434.0 6.5 2.67 4.32 V17/18 850  
                 
ER12-442 190.5 198.0 7.5 4.83 3.83 H 450  
  192.5 193.0 0.5 47.40 36.60      
                 
ER12-450 81.5 92.5 11.0 4.36 5.55 D 450  
incl. 87.0 91.0 4.0 10.70 13.20      
                 
ER12-456 239.5 250.5 11.0 10.98 11.59 I & P 450  
incl. 243.0 250.5 7.5 14.90 15.80      
                 
                 
Notes: Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes. Assay samples are taken from HQ core, sawed in half along the core axis with one half sent to a commercial laboratory and the other half retained for future reference. Sample length approximates true thickness. Core samples are crushed and split with 1 kg pulverized for assay. Core samples containing visible gold were also analyzed by screen metallic methods. Screen metallic samples are screened to 100 microns. 50-gram splits are then fire-assayed using an AAS finish methods. No significant results were detected in drill holes 365, 368, 377, 378, 379, 381, 382, 384, 392 and 399.
 
Contact:
Eastmain Resources Inc.
Dr. Donald J. Robinson
President
(519) 940-4870
(519) 940-4871
Eastmain Resources Inc.
Catherine Butella
Exploration Manager
(519) 940-4870
(519) 940-4871
info@eastmain.com
www.eastmain.com

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